OANDA, one of the leading cryptocurrency brokerages based in the US, has announced its entry into the UK cryptocurrency market.

This comes after OANDA's specialist arm, OANDA Crypto, received the necessary approvals to operate in the UK, marking a significant step forward in the company's expansion efforts.

The branch was formed following the acquisition of a majority stake in Coinpass, an FCA-registered crypto firm. The move allows OANDA to offer its UK clients a wide range of trading options, including over 63 cryptocurrency pairs such as Bitcoin, Ether and Ripple. The firm also plans to expand its offerings by introducing additional tokens and features in the future.

The decision to enter the UK market continues OANDA's strategy to establish a presence in regions known for their strict regulatory standards, mirroring its previous expansion into the US through a partnership with cryptocurrency trading platform Paxos.

In addition, OANDA recently acquired and renamed Polish broker Dom Maklerski TMS Brokers SA to OANDA TMS, moving its continental European operations from Malta to Warsaw, Poland.

In other news from the UK crypto environment, the government plans to introduce legislation on stablecoins and cryptocurrency staking services.